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HARARE – The International Monetary Fund (IMF) is urging Zimbabwe to implement a series of reforms to tackle economic instability, with a strong focus on addressing corruption vulnerabilities as a key driver of sustainable growth.
Zimbabwe Stock Exchange listed company, Old Mutual Limited, a leading African financial services group, has received crucial regulatory approval to establish a fully-fledged bank in South Africa.
Zimbabwe’s recently introduced gold-backed currency is sliding on the local black market but officials insist the currency is getting stronger and has a bright future. Even songs are played on the radio encouraging citizens to embrace the currency, called Zimbabwe Gold — or ZiG — introduced on April 5 trading at 13.56 to the U.S. dollar. Official statistics say ZiG is now trading at 13.41. But on the black market it is around 20.
HARARE – The Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has outlined a comprehensive reform plan for the central bank which will include internal restructuring and rebranding in order to regain the lost public trust.
Grant Thornton, the independent auditors for Masimba Holdings Limited, issued a scathing audit report on the company’s 2023 financial statements, expressing an adverse opinion due to “material non-compliance” with International Financial Reporting Standards (IFRS).
Masimba Holdings Limited, a major construction company in Zimbabwe, is experiencing the double-edged sword of government projects. While participation in these initiatives like the Masvingo highway rehabilitation under the Emergency Road Rehabilitation Programme (ERRP) has fueled growth, delayed payments and a global commodities downturn threaten to stall progress.
The Ministry of Environment, Climate and Wildlife (MECWD) has acknowledged failures by the Hwange Colliery Company (HCCL) in addressing long standing environmental issues that threaten the Deka River.
Rainbow Tourism Group Limited (RTG) has announced a strategic partnership with Grand Metropolitan Holdings BV (GMH), a Switzerland-based international hospitality company, to form multiple joint ventures focused on expanding hospitality and technology opportunities across Africa.
HARARE – Finance Minister Mthuli Ncube on Wednesday addressed concerns regarding companies delisting from the Zimbabwe Stock Exchange (ZSE) to join the Victoria Falls Stock Exchange (VFEX). Ncube was responding to Zanu-PF legislator Clemence Chiduwa, who had raised the question in Parliament, highlighting the “cannibalism” of the ZSE by the VFEX.
Caledonia Mining Corporation Plc (CMCL) has announced robust gold production and increased gold sales at its Blanket Mine in Zimbabwe for the first quarter of 2024 (Q1 2024). Despite having eight fewer production days compared to Q1 2023, Blanket Mine produced 17,050 ounces of gold in Q1 2024, reflecting a 6% increase.